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$1,679,000

Est. payment - /mo

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6 BD

3 BA

4,836 SqFt

Active

219 E 10th ST Long Beach, CA 90813

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 06:15 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,836 sqft

Price per Sqft $347

MLS Listing ID 24371729

Bedrooms 6

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1909

Lot Size 5,749 Sqft

Property Description

Rare Multifaceted High-Revenue Mixed-Use Property with Vast Upside Potential in Long Beach! Dive into this diversified investment, a mixed-use property yielding strong revenue with upside potential and preliminary redevelopment concept plans. Nestled in an evolving Long Beach neighborhood, this compelling asset covers two lots with separate APN's, merging lucrative commercial operations with updated residential spaces for a dynamic revenue stream. The front building features two retail store fronts on the ground level, and upstairs a three bedroom apartment features dual primary sized rooms with a common bathroom. The rear duplex qualifies as a multi-family residential duplex. Upstairs at the rear you'll find a two-bedroom apartment (converted) with great balcony space and tons of daylight. Downstairs rear is a large one bedroom apartment. Each residential unit has its own new laundry in-unit and there's a long driveway with off-street parking at the back. The two separate APN's of this purchase opportunity could allow for conventional financing of the rear duplex, increasing attainability for newer or first time investors. The allure of this property extends beyond its current income generating capabilities to a future filled with promise, highlighted by the preliminary sketches for the development of 20 micro-apartment as an option for future development. Envision the rent roll on a prospective 20 micro-units building! Recent improvements and new construction are reshaping the neighborhood, not to mention the cities investment of over $750MM on infrastructure via the "Elevate '28" plan. These two buildings collectively known as 219 E 10th Street stand out as a stellar choice for investors aiming for a combination of steady diversified income and the opportunity for expansive growth and appreciation. The strategic benefits of owning a desirable mixed-use building with upside potential, redevelopment potential, and situated on two APN's make this a rare gem. Updated units, off-street parking, a prime location, and a manageable 5 door roster underscore the ease of stepping into this investment for new investors and seasoned professionals alike. This opportunity presents a rare window to invest a forward-thinking, multifaceted investment perfect for those poised to leverage the city's bright prospects and sights on the long term. APN #7273-007-037 and APN #7273-007-035. Subject to CA rent control law. All remarks made in good faith, however cannot be guaranteed by listing agent / broker.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD29

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Inclusions Washer and Dryer Units in each of the three residential units.

Fireplace No

Appliance Gas Cooktop, Disposal, Gas Oven, Dryer, Washer

Exterior

Garage Garage, Private, Tandem, Uncovered

Parking Type Garage, Private, Tandem, Uncovered

Total Parking Spaces 4

Building

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7273007037

Financing Cash

Special Listing Condition Standard

Listed by Jeffrey DeLancy • Livel Real Estate

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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